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BANK OF FINLAND DISCUSSION PAPERS - SUOMEN PANKKI.pdf
BANK OF FINLAND
DISCUSSION PAPERS
1/2000
Research Department
1.3.2000
Substitution of Noncash Payment Instruments
for Cash in Europe
BANK OF FINLAND DISCUSSION PAPERS
Research Department
1.3.2000
Substitution of Noncash Payment Instruments
for Cash in Europe
The views expressed are those of the authors and do not necessarily correspond to the views of
the Bank of Finland or the ECB.
* Bank of Finland, Research Department, P.O.Box 160, FIN-00101 Helsinki, Finland. e-mail:
jussi.snellman@bof.fi . All correspondence should be addressed to Jussi Snellman.
** European Central Bank, e-mail: jukka.vesala@ . Jukka Vesala was employed by the
Bank of Finland Research Department when this research was carried out.
*** Florida State University. e-mail: dhumphr@.
We are indebted to Juha Tarkka for suggesting us an outline of the method for approximating
cash payment flows, and to David Mayes, Oz Shy, Jouko Vilmunen and Matti Virén for most
helpful comments and suggestions. Remaining errors are ours.
ISBN 951-686-647-6
ISSN 0785-3572
(print)
ISBN 951-686-648-4
ISSN 1456-6184
(online)
Suomen Pankin monistuskeskus
Helsinki 2000
Substitution of Noncash Payment Instruments for
Cash in Eur
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